Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th Jan 2017).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQ1105 (+3.1%) / $1104 (+3.3%) (weekly change) (+15.2% and +16.5% YTD change, respectively). The number of week traded shares was 36.6bn and the weekly trading volume was IQD25.3bn ($19.5mn).

ISX Company Announcements

Al-Kindi of Veterinary Vaccines Drugs (IKLV) will hold AGM* on Feb. 12, 2017 to discuss and approve 2015 annual financial results. ISX will suspend trading of IKLV starting on Feb. 7, 2017.

  • A cross transaction occurred on 9.75bn shares of Zain Al-Iraq Islamic Bank for Investment (BZII) on Jan. 26, 2017, which represents 3.9% of BZII capital.
  • Two cross transactions occurred on 19bn shares of Mosul Bank for Development and Investment (BMFI) on Jan. 24 and Jan. 25, 2017, which represent 7.6% of BMFI capital.
  • Baghdad Soft Drinks (IBSD) resumed trading on Jan. 25, 2017 with IQD177.3bn paid-in capital after completing the merger procedures with Ynabee Al-Zawraa (Aquafina).
  • Asiacell (TASC) resumed trading on Jan. 23, 2017 after discussing and approving 2015 annual financial results and deciding to distribute 25% cash dividend (IQD0.25 dividend per share, 3.7% dividend yield).
  • Original shares of Al-Ameen Financial Investment (VAMF) resumed trading on Jan. 22, 2017 after discussing and approving 2015 annual financial results and deciding to increase the capital from IQD1.0bn to IQD1.5bn through 50% rights issue.
  • ISX sent to the CBI on Jan. 23, 2017 the lists of banks and money transfer companies which were approved by the board of governors and waiting for ISC approval to be listed:

      The following companies were approved by the board of governors and waiting for ISC approval: Al-Rawahil Islamic Bank, Al-Ta’awin Islamic Bank for Investment, Al-Warka Bank for Investment, United Company for Money Transfer, International Development Bank, Cihan Investment Bank, Al-Bilad Islamic Bank and Global Islamic Bank.

       Al-Ameen Al-Arabiya for Money Transfer applied for listing and submitted all the required documents.

       The following companies applied to be listed on the ISX, but haven’t submitted all the required documents: Region Trade Bank, Erbil Investment Bank, Al-Junoob Islamic Bank, Al-Aswar for Money Transfer, Al-Taib for Money Transfer and Al-Lulu for Money Transfer.

       Al-Huda Bank did not apply a request to be listed on the ISX.

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